Medium Term Budget Plan Published

 Medium Term Budget Plan Published

By MAIMBO MWEEMBA
Government has published the 2022-2024 Medium Term Budget Plan (MTBP) also known as the White Paper.

The 2022-2024, White Paper consist of the fiscal position of the approved 2022 Budget and outlook for the 2023 and 2024 fiscal years.

The 2022-2024 White Paper will also be the basis for the formulation of the 2023-2025 Medium Term Budget Plan.

The White Paper provides Government’s performance in the 2019-2021 medium term and policy direction for the 2022-2024 medium terms.

In addition, it details the fiscal framework within which these policy objectives will be met.

Speaking in a statement, Ministry of Finance, Secretary to the Treasury, Felix Nkulukusa said, Government remains optimistic with economic fund mantels over the period 2022-2024, despite the Covid-19 pandemic having a huge impact on economic growth, and posing additional challenges to creating fiscal space for delivery of public services in the previous medium term.

He said Government policy is now anchored on restoring macroeconomic stability, attaining fiscal and debt sustainability, restoring economic growth and improving the livelihoods of the Zambian people.

Mr Nkulukusa said the 2022-2024 MTBP frameworks is predicated on the objectives that were set out in the 2022-2024 Budget Policy Concept Paper which was approved by Cabinet in September 2021 and on which the 2022 National Budget was based.

He also said the MTBP will provide a review and ensure Government’s policy objective of restoring economic growth and safeguarding livelihoods for a prosperous and equitable Zambia is achieved.

Mr Nkulukusa said this will be done by ensuring there is private sector-led growth, where the private sector will be facilitated in playing a significant role in the area of production, trade, and enterprise and job creation.

He said that the public sector, on the other hand, will continue to play the role of providing the requisite infrastructure and a conducive business regulatory environment which is critical for the private sector to effectively contribute to national development.